Arcos Finalizes Tender and Exchange

Arcos Finalizes Tender and Exchange

Brazil Bonds

Arcos Dorados is set to replace $208.8m of its 7.50% 2019 bonds targeted in recent tender and exchange offers, or 67.7% of the amount outstanding, it says. This includes $90.5m in bonds exchanged for new 6.625% 2023 bonds in an offer expired Monday, and $118.4m purchased for cash in an offer expired September 23. The 2023s offered in the exchange are fungible with the $375m it sold for cash last month. In the cash tender, Arcos offered $1,092.50 per $1,000.00 principal through an early deadline,

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